Peet-To-Peer Marleting SocialLadderBlog

Behind the Peer-to-Peer Marketing Revolution

 

The personal recommendation of a friend – whether it be for an event, service, or product – has a strong persuasive effect. Unlike company advertisements, the close connections we have with people who are part of our personal lives prime us to view the information as coming from a reliable source. This is the idea behind peer-to-peer marketing, and the operative principle of its success.

In this age of technology, the market landscape where businesses employed methods reliant on passive consumerism is undergoing a change. The digital age is decentralizing the one-way top-down relationship that businesses had with consumers, and power is rapidly shifting towards the hands of consumers. The result of this is a peer-to-peer marketing revolution.

According to Nielsen, people are 4x more likely to make a purchase when referred by a friend.

Through social media platforms like Facebook, Twitter, Instagram and LinkedIn, businesses can actively engage and interact with their consumers. People can comment, like and share their opinions with other people who are interested in a product or service they have tried. An increasing number of people rely on customer reviews of businesses, products, services and events to guide their purchasing decisions.

Engaging with key influencers, consumers and fans makes customers feel valued and respected as individuals [Marketingland]. When customers feels like they are valued, this fosters long-term trust and loyalty which is the foundation for long-term relationship with your customers.

 

 

Tinuke

 

Tinuke​ ​Akintayo​ is an intern at SocialLadder. She is currently pursuing a Bachelor’s Degree in Sociology and Anthropology at Swarthmore College as part of the class of 2018. During her free time, she enjoys dancing, listening to music and drawing

SocialLadder Partners with YogaClub

SocialLadder recently announced its newest partnership with YogaClub, a subscription box service that delivers on-trend, brand name yoga apparel at a discounted rate. This collaboration will open a new market for SocialLadder, which is traditionally known for working with live events.

Subscription box services have been growing in popularity and in number of offerings for some time. As of January 2017, there were over 2,000 companies offering weekly boxes delivered to customers! A clear sign of the growth and reliance of the new subscription economy business model.

With this increase in supply of subscription box services, the competition has been growing exponentially. Bloomberg reported monthly visits to subscription box service websites totaled more than 21 million in January – up 3,000 percent from just three years ago. This intense and saturated marketplace has led companies to look for ways to differentiate themselves, and get a leg up on competitors.

Recommendations from a friend continue to be the #1 reason people make purchases, so to stand out, YogaClub is using SocialLadder’s peer-to-peer ambassador marketing tools to create organic content & drive new subscriptions.  In a generation of consumers who tend to ignore and scroll past banner advertisements, this peer-to-peer marketing business model offers real authenticity to the consumer and helps a brand stand out from the crowd.

JOIN YogaClub Today!

 

Andrew

 

Andrew Kaufmann is an Intern at SocialLadder. He currently attends Swarthmore College, as a member of the class of 2018, and is also a part of the Swarthmore College Men’s Basketball team. In his free time, he enjoys taking black and white and action shot photos for the college’s athletic department.